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Why do some people succeed in life and others don't?

16.52 Add Comment

I call it the “Potato Effect”

When I started in business, many years ago, my father in-law told me this story and I have retold it many times. In fact every time I hire someone new I tell them the story. Most of these people either don’t understand or don’t listen to the advice.

Two guys started working, on the same day, at a large company. Let’s call them Pete and John.

After about five years Pete made an appointment with his boss. During the meeting he asked his boss why he was still on the same level as when he started whilst John was already in management.

Pete’s boss said that he would explain but if he would run down to the vegetable shop on the corner to find out if they had potatoes for sale.

Pete ran as quickly as he could and when he got back to the office he proudly exclaimed that they did in fact have potatoes for sale.

The boss asked how much they were so Pete hurried back to the shop and when he came back he told his boss that they had large potatoes for only $10 per bag.

The boss then asked if they don’t have smaller bags. Pete, once again, rushed back to the shop and on his return told his boss that they did in fact have smaller bags at only $7 per bag.

The boss then asked if they were washed or unwashed and after Pete went back to the shop he explained that the had both washed or unwashed available.

The boss then asked him to call John to the office.

When John arrived the boss asked him to go to the vegetable shop and find out if they had potatoes for sale.

When John arrived back his answer was:

They do have potatoes for sale, both in large and small bags at only $10 for the large ones and $7 for the smaller ones. One can also choose between washed and unwashed potatoes.

The boss then asked Pete if he now understood why John was promoted and he wasn’t.

How the Rich Invent Money

00.58 Add Comment

Let me share with you an incredible tale my dad told me once.

 A poor man complained to God, saying, “how unfair life is, the rich man has it so easy but I have to slave away!” So God took the rich man and made him as poor as the poor man, and gave them both fishing rods.

So of course, both being poor, they start fishing. After the first day, the poor man catches 10 fish and sells them for $20 at the market. Happy, he decides to buy some veggies, some rice, and as a special treat, some meat too for his family and they have a grand night.

The rich man also catches 10 fish, but he sells 9 for $18. He eats the last fish with his family, but it’s not enough so they go to bed hungry. The next day he takes his $18, and offers a fellow $10 to help him fish. The next day he gets 20 fish ($40) and repeats the process. 

The poor man still buys some veggies, some meat, and remains the same. After some time, the rich man has saved enough money to make other investments and other business ventures.

So my point is, you have to be good with money, and you have to be willing to make sacrifices. Being good with money allows you to save precious time and maximize your opportunities.